It's fake.
Although the style number portion of the serial number is correct for the style of bag, the date code indicates that the bag would have been made in 1998. Coach didn't make signature bags until 2000.
Additionally, if you read the creed, it states that the bag is made of "completely natural glove tanned cowhide." This bag is NOT a leather bag.
THere are more problems with the uncentered and misaligned C pattern, and the improper lining color.
There is no question that the bag is fake.
Note that this is one of the reasons why we always say that there's no way to authenticate a bag based on a serial number or the style number portion of the creed. Sometimes fakes have valid numbers.
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